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Update, Aug. 20: Ferrero USA released an statement assuring Nutella fans there will no interruption of their Nutella supply:

“Inclement weather last spring in Turkey has impacted this year’s hazelnut harvest. We are tracking this issue closely and there’s no foreseeable impact on the availability of Nutella. As always, we will maintain the high quality of the Nutella product that consumers know and love.”

Original story:

Say it’s nut so.

Ferrero Rocher, the company that produces Nutella, is warning of a potential shortage of the decadent hazelnut spread.

Poor weather has affected global hazelnut crops and Ferrero Rocher, the world’s largest buyer of hazelnuts, said limited availability has sent hazelnut prices soaring 60 percent.

“It’s difficult to know whether the fears of a Nutella shortage are overblown, but it is certainly feasible to expect extra pressure on supply in view on ongoing strong demand and a much smaller crop in Turkey, due to frost damage to the bloom in March,” Food News deputy editor Julian Gale said, reports NBC. “I don’t know whether Ferrero has enough contracts to weather fluctuations like this.”